Boyd Group Reports 14.8 Percent Increase in Sales from 2009
March 25, 2011

The Boyd Group Income Fund, which owns Boyd Autobody and Glass, Gerber Collision and Glass and Gerber National Glass Services, has reported its financial results for the three and twelve-month periods ended December 31, 2010. The company reports a 14.8 percent increase in sales-from $223.7 million in 2009 to $256.8 million in 2010-which it attributes in part to the purchase of True2Form Collision Repair Centers Inc., acquired in July 2010.

Boyd also says its same-store sales increased by 1.4 percent-or $3.1 million-for the year. The company's adjusted EBITDA totaled $18.9 million for 2010, compared with $15.0 million in 2009-a 26.3 percent increase. Likewise, net earnings rose 97.8 percent-from $8.9 million in 2009 to $17.6 million in 2010.

"We are very pleased to report record sales, net earnings, adjusted EBITDA, and distributable cash for the year," says brock bulbuck, president and Chief Executive Officer of the Boyd Group. "Market conditions improved significantly as the year progressed, especially during the fourth quarter, which was very favorable. In particular, the fund benefited from a significant and unusual hail storm in the Arizona market, which alone added between $1.1 million and $1.3 million of EBITDAto our fourth quarter results."

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